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The News: President Donald Trump said Saturday that he has in principle approval a deal where enterprise software maker Oracle and retail giant Walmart will partner TikTok in the U.S. Shortly after the president’s comments, Oracle said it was chosen as TikTok’s secure cloud provider and will become a minority investor with a 12.5% stake in the company. Read the news story on CNBC.
Analyst Take: This situation is quickly evolving and almost as fast as you can put some thoughts on paper, you will find yourself hearing changes to the story or new possible headwinds in getting this deal done. You can be sure this won’t be the last piece we will be writing here about the deal.
This Deal is not an Oracle Acquisition of TikTok
There has been a lot of speculation as to what type of deal this would be. Initially, the plan was for a buyer, be it Oracle or Microsoft to purchase the U.S. based operations of TikTok. Based upon the latest, this will not be an acquisition, but a new entity, “TikTok Global,” which will be a spin off of U.S. and many other regional operations of the company. Oracle and Walmart will be investing into this new company. So in short, Oracle did not buy and is not buying TikTok—but it is investing in the company.
The deal itself will be structured as following:
Oracle will hold a 12.5 percent stake in TikTok Global at its inception and will also serve as the cloud hosting provider for the new entity. Walmart will hold another 7.5 percent stake. The remaining 80 percent will be held by ByteDance. The new company also plans to launch an initial public offering of stock before the end of 2021. That is what we are being told is the plan for now.
It is important to note that 40 percent of ByteDance itself is held by US investors. Mathematically speaking, the 40% with the addition of the 20% that will be held by Oracle and TikTok, enables the claim that the ownership of TikTok Global would translate to about 53 percent being held by US investors, thus giving the US majority control–It is still hard to tell if this is going to suffice in the eyes of President Trump and those overseeing the deal.
TikTok Global Drives Value Back to the U.S.
According to the reports, TikTok Global plans to create 25,000 US jobs as part of an expansion of its global headquarters, which will remain in the US (Texas has been suggested in various reports). TikTok Global will pay more than $5 billion in new tax dollars to the US Treasury, according to a release from Walmart. It will also create an educational program to “develop and deliver an AI-driven online video curriculum” that includes courses in math, reading, science, history and computer engineering for children.
I believe these are positive steps to make the deal more palatable for those still concerned about how this helps domestically. I am a bit curious as to the means for creating such a volume of jobs. While Facebook, which is much larger in size than TikTok has 52,000 employees, Twitter and Snap, which are more similar in size, both have less than 5,000. This will be an area to keep an eye on as this level of commitment for job creation may be difficult to achieve once the deal is complete prior to substantial growth for TikTok Global.
Oracle Gen 2 Cloud a Big Winner in This Deal
Something I didn’t spend much time on in this piece, but is extremely important to point out, is how good this deal is for Oracle and its perception. Throughout the last year, Oracle has seen a few historic wins in the cloud as its 2nd generation cloud has received a lot of kudos in comparison to its previous generation. Most notable win for Oracle Gen 2 Cloud was Zoom, but also McDonalds was a recent win that was pointed out in its Q1 earnings. This deal will mean that Oracle will be the secure cloud provider for one of the world’s most popular social media apps. It is also one of the most questionable security wise, and Oracle will be the trusted U.S. partner to make it safe(r) for its users. This immediately lends credibility as Oracle will be able to tout itself the cloud provider for two of 2020’s biggest winners of the unfortunate pandemic–Zoom and Tiktok. Things could really be looking up for Oracle Cloud and this may come back to be a pivotal moment.
Overall Impressions on the News of TikTok Global Partnership with Oracle and Walmart
There are a lot of unknowns that remain in this deal. While there are early indications that this deal has been blessed by President Trump, there are still some conflicting reports about a requirement for the U.S. companies to hold a majority stake in the business, which hasn’t technically been met by the initial 12.5% for Oracle and 7.5% for Walmart, however, based upon the distribution of ByteDance shares to current investors, along with the Oracle and Walmart investments, will be achieved.
The placement in Oracle’s Gen 2 cloud will be huge for Oracle. For Walmart, there are inklings of an e-commerce play, but I’m still a little more uncertain as to how that will play out. Nevertheless, it has been quite a few months for this evolving situation. We shall see if things are locked and loaded on the 27th of September as that date is the next big milestone for finalizing a deal that meets the expectations of President Trump.
Futurum Research provides industry research and analysis. These columns are for educational purposes only and should not be considered in any way investment advice.
Read more analysis from Futurum Research:
The original version of this article was first published on Futurum Research.
Daniel Newman is the Principal Analyst of Futurum Research and the CEO of Broadsuite Media Group. Living his life at the intersection of people and technology, Daniel works with the world’s largest technology brands exploring Digital Transformation and how it is influencing the enterprise. From Big Data to IoT to Cloud Computing, Newman makes the connections between business, people and tech that are required for companies to benefit most from their technology projects, which leads to his ideas regularly being cited in CIO.Com, CIO Review and hundreds of other sites across the world. A 5x Best Selling Author including his most recent “Building Dragons: Digital Transformation in the Experience Economy,” Daniel is also a Forbes, Entrepreneur and Huffington Post Contributor. MBA and Graduate Adjunct Professor, Daniel Newman is a Chicago Native and his speaking takes him around the world each year as he shares his vision of the role technology will play in our future.


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Contrary to speculation, the Iceland founder does not intend to introduce a significant food offer. Instead, he will jettison products such as phones and CDs to make room for ranges such as value homewares and toys to enhance Woolies’ family appeal, sources close to Walker said.
Adopting a similar strategy to that employed to revitalise Iceland, Walker plans to cut costs, smarten up stores and rebuild staff morale, it is understood. The success of that approach was shown this week when TNS reported Iceland had delivered its strongest market share growth in years.
An audacious approach from Walker, backed by Baugur, was rebuffed by Woolworths chairman Richard North earlier this week. North said the approach undervalued the retailer and would leave the parent company with unacceptable pension and lease liabilities.
Walker, who declined to comment, is expected to renew discussions with Woolworths and pension arrangements are likely to be a key negotiating point.
North told Retail Week: “There has to be sensible treatment of the pensions. We would be prepared to pay pensions of existing pensioners and those who have left Woolworths but not retired, but we would not be prepared to do it for existing employees.”
Last week, Woolworths named Steve Johnson as its new chief executive. North said “credible plans” were being laid to turn Woolworths around, but added: “Steve Johnson knows that if it is right for the company a deal would have to be done.”
Final capter for the Big Red Book?
Woolworths is reviewing its multichannel strategy, which could lead to the scrapping or scaling back of its Big Red Book catalogue in favour of chasing online sales.
The next Big Red Book, with 3,000 products, will go ahead as planned in October, but its future is uncertain.
A Woolworths spokesman said: “Changes will be made to how we present our multichannel offer.
“Catalogues, flyers and online marketing will continue to be a critical part of our strategy. We are testing new formats in all three.”
Verdict consulting director Neil Saunders warned: “The Big Red Book is a driver of footfall. Woolworths’ customers aren’t necessarily the kind of people who do their shopping online.”

domain: news


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Netflix plans to hold a two-day event called StreamFest. Access to the streaming service will be free for all users.
Netflix StreamFest Event Starting Date?
The Netflix StreamFest will begin on December 4. The event was mentioned in the Netflix code for Android devices, after which the company confirmed the news to Protocol.
According to the information found in the code, StreamFest will open access to the Netflix directory for all users on all devices that have access to the platform. However, the number of active spectators during the StreamFest may be limited, as there is a warning in the festival program.
Recall that last week Netflix decided to abandon the 30-day free subscription, which was offered to new users.


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SAO PAULO, Oct 17 (Reuters) – Both candidates in Brazil’s presidential runoff election this month have offered relief for unpaid debts weighing on family finances and hurting economic growth.
But economists and bankers say their solutions are minor band-aids compared to the impact of overextended consumers on Brazil’s economy – and lenders themselves are finding new ways to renegotiate delinquent debts and lift that overhang from credit markets.
With nearly 70 million Brazilians blacklisted by credit agency Serasa, owing 290 billion reais ($54.4 billion), debt relief is smart politics in a closely fought presidential campaign, ahead of an Oct. 30 runoff vote. Once a customer is behind on any loan or payment, creditors can request restrictions on their credit profile if efforts to get payment failed.
Leftist former President Luiz Inacio Lula da Silva, who narrowly led the first-round vote, is proposing government-backed renegotiation of consumer debts. Advisers say he would focus first on 95 billion reais of unpaid bills accumulated by families earning up to 3,600 reais ($676) per month. Later steps would focus on incentives to restructure bank debt, for this population.
Looking to steal his thunder, right-wing incumbent Jair Bolsonaro announced a program offering a sharp discount on bank debts. But the scope is far more modest, applying to some 4 million borrowers from state bank Caixa Economica Federal, which estimated about 1 billion reais of restructuring.
„It will not change much,” said Eduardo Martins, partner at consumer credit restructuring firm MGC Crediativos, which estimates Brazil’s total volume of non-performing loans around 1 trillion reais, including bank debt, retail credit, telecom bills and utilities.
Martins was also skeptical of how easily Lula could get lenders to the negotiating table: „Any plan should take into consideration that 60% of the debt was already sold onto other investors, so incentives given to banks would be useless.”
Brazil’s secondary market for non-performing loans has grown dramatically in recent years, as the central bank has changed how it requires that lenders’ provision for losses and asset managers have grown more interested in the segment.
They have also had more to work with, as a downturn during the pandemic, followed by high inflation and aggressive interest rate hikes have begun to push up delinquency rates and put more families on Serasa’s blacklist.
Fabio Mentone, formerly an executive at bank deposit guarantor FGC, said restructuring consumer debt is important, but will have limited effect if Brazil cannot improve the underlying economic conditions, including high inflation, unemployment and borrowing costs.
„If you just solve the credit problem now but interest rates stay high, you will have the same problem in a short period of time,” he said.
MARKETS KEEP BUSY
For its part, the private sector is already divvying up and discounting the bulge of bad credit portfolios with specialized firms offering discounts of more than 90% for the older credit in arrears. The original creditors, which frequently write off the debts entirely, are wary of offering such terms directly to borrowers for fear that other clients stop paying.
Restructuring firm Pantalica Partners estimates that about 115 billion reais in non-performing loans have been sold on Brazil’s secondary market this year alone – up nearly five-fold from 2019.
Most of the volume is related to loan portfolio sales by Brazil’s largest retail banks, utilities and retailers. Around 37 billion are sales of defaulted corporate debt of single companies, such as bonds.
Among the largest acquirers of portfolios this year are asset managers and credit management companies such as Jive, SPC, Cerberus, BRD, Quimera and Quadra. Intrum, one of Europe’s largest credit managers, also opened a subsidiary in Brazil in 2020. Higher interest rates are expected to increase delinquency in loans and grow the total pool of distressed assets.
The largest banks also own credit management companies to restructure overdue debt, such as Recovery (owned by Itau Unibanco Holding SA (ITUB4.SA)), Return (Banco Santander Brasil (SANB3.SA)) and RCB Investimentos (controlled by Banco Bradesco SA).
Since the pandemic, many overburdened borrowers have been using dedicated websites to pay their debts off at a discount without needing to negotiate with representatives of the creditors. All companies specialized in credit recovery such as Crediativos, have their websites with offerings to borrowers.
Of total debt renegotiations in Crediativos since the pandemic, for example, around 70% have been made through the website. A smaller portion of clients use call centers.
Most of the debts that lead Serasa to „blacklist” Brazilian consumers are relatively small – the average value at Serasa is 1,215 reais ($228) and are usually not refinanced, but paid off with a steep one-time discount. Delinquencies in larger loans such as mortgages is dealt with in a different way, since these loans usually have collateral.
One large non-performing loan auction is slated to be held in the coming weeks by Emgea, a non-financial company controlled by Caixa Economica Federal that owns around 60 billion reais in credit with individuals and companies, usually with some collateral. Most of the credit is long overdue, with some in arrears for more than 20 years. The sale is unrelated to the Caixa program announced for small borrowers by Bolsonaro.
Samuel Oliveira, founder at advisory firm Northstone, said large international investors in distressed credit are looking at Emgea assets and increasing purchases of Brazilian portfolios. Unlike previous cycles of high interest rates, Brazilian families have higher debt. Debt levels reached records in August, with around 80% of families using credit, according to industry data. Debt volume also increased. Mortgages, for example, that represented 4% of GDP in 2010, reached 10% of GDP last year.
($1 = 5.3284 reais)
Reporting by Tatiana Bautzer
Editing by Brad Haynes and Nick Zieminski
Our Standards: The Thomson Reuters Trust Principles.


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- Sonoma Brands, which purchased Krave from Hershey in May, said it will purchase Chef’s Cut Real Jerky for an undisclosed amount. The equity firm also invests in other food brands such as Dang coconut chips and owns a few other businesses, including sweets company SmashMallow.
- Chef’s Cut, founded in 2009, sells jerky, meat sticks and biltong made with real ingredients and premium cuts of steak. Jon Sebastiani, who started Krave in 2009 and now is the founder and managing partner of Sonoma Brands, told Food Dive the deal with Chef's Cut came together in less than a month.
- "With these two brands, we can really get more surgical on channel focus, on consumer segmentation, on messaging, and we can attack part of the premium position of this category from different angles," Sebastiani said. "We're more powerful together than each of us apart."
In the four years since it was founded, Sonoma Brands has worked with more than a dozen young food, beverage and other consumer brands including Dang, SmashMallow and Medlie Organic Veggie Drink. The purchase of Chef’s Cut Real Jerky marks the second purchase since May for the brand incubator in the premium jerky space after it snapped up Krave from snack and confections giant Hershey.
In an interview, Sebastiani said the recent purchases are part of Sonoma Brands' bet on the premium position in the meat snack category. It also gives the investor more chances to extract synergies when it comes to manufacturing the products, negotiating better terms with its co-packers and having a deeper bench of brands to pitch to prospective retailers and consumers.
The global meat snacks market is a fast-growing segment in food, a major reason why so many food companies have products in the space. Revenue is expected to be $14.5 billion in 2029 compared to $7.1 billion a year ago, according to Transparency Market Research.
While they may overlap in some product offerings, Chef's Cut has exposure in sticks, biltong and zero sugar meats, areas Krave doesn't currently have SKUs. Sonoma also can use the brands to target a broader set of consumers, including women and fitness enthusiasts, popular with Krave, Sebastiani said.
The acquisition of Krave marked a homecoming of sorts for the premium jerky brand founded by Sebastiani in 2009 before it was purchased by Hershey for $220 million six years later.
Krave is "still very much viewed as a premium brand and it's the godfather of this current meat snacks renaissance," he said. "Our acquisition of Krave spoke to the marketplace that we were going to take the premium direction seriously and our phones started to ring."
Other companies have reached out to Sonoma Brands, and while Sebastiani said another deal isn't imminent, "we are definitely going to consider acquiring more" to consolidate in the segment and extract further synergies.
During its time under the ownership of Hershey, Krave struggled as mainstream jerky options increased and other premium players entered the market, squeezing margins and leaving companies to fight for limited shelf space. Sebastiani said it's possible consumers simply decided to return to more of the legacy brands on the market because with so many competitors in premium compared to when Krave started, it was hard to distinguish what it meant to be in the upper echelon of the category.
Hershey ultimately wrote down the value of the Krave brand by $108 million earlier this year. The challenge is that the niche is dominated by Jack's Link, which holds more than a 50% market share, and a few other prominent players like Country Archer Provisions.
While Krave may not be what it once was, it still could do well under the oversight of a privately owned firm that specializes in trendy brands by a leader who knows the segment. Krave thrived under Sebastiani's ownership and it very well could again. It's uncertain what financial shape Chef's Cut was in before Sonoma's purchase, but regardless it could benefit from Sebastiani's tutelage as well.
"We feel [Chef's Cut] gives Krave more leverage, and our thesis is again to build a portfolio of premium brands to more effectively compete against the legacy big brands," Sebastiani said.


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With virtual reality headsets set to play a huge role in the future of gaming, at least based on the level of interest shown in Facebook's acquisition of Oculus VR, creators of the Rift, and Sony's planned Project Morpheus peripheral for the PlayStation 4, it should be no surprise that an increasing number of companies are looking to jump aboard the bandwagon.
The latest, and perhaps most interesting, addition to the fray is a startup company called ANTVR who claim they'll be bringing a completely open source, cross platform VR solution to consumers in the near future.
The company is in the process of running a Kickstarter campaign right now, and in just two days it has already raised more than half of its $200,000 target, suggesting that another major crowd funding success story may be in the offing.
The company claims it will be retailing the unit at cost initially, around $300, in order to ensure it can be brought to market and gain as much penetration as possible, with Kickstarter supporters offered the chance to preorder their kit by backing before June 23.
For those of you concerned about compatibility with existing and future VR games, the ANTVR kit will be fully compatible with all Oculus Rift enabled titles, and will also work any device that supports HDMI, which includes the likes of Microsoft's Xbox One and Xbox 360, Sony's PlayStation 3 and PlayStation 4, iPhones, iPads, select Android phones and tablets, Blu-ray players and more.
The headset offers a 1,920 x 1,080 full HD display and differs from the Rift by using an aspherical lens which the company claims will cause less distortion on non-optimized images. Unlike the Rift, the system also comes with its own controller, which is capable of being used as a light gun or opened up to a traditional gamepad format.
You can check out the company's Kickstarter video below before deciding if you'd like to jump on board and help get it to market by pledging $300 to the campaign.


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Comscore numbers: Google's dominance will not be affected
Though Microsoft and Yahoo join forces trying to get more share of the search market, they probably shouldn't get their hopes up when it comes to beating Google, especcially not in Europe.
Off course these numbers aren't news for us Europeans. The Americans however will be looking differently at these numbers and are still 'surprised'.
Tagcloudsocial media realtime ses london ppc youtube iphone interview viral adwords ads research business twitter yahoo marketing social advertising seo tools google tools internet microsoft russia google wave google europe apple mobile facebook google maps china a4uexpo search images baidu search engine strategies linkbuilding blogger searchcowboys


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Motorola’s long rumored ATRIX 3 smartphone for AT&T has just been spotted at the FCC, where it received the necessary approvals as model number MB866.
According to the FCC listing, the device will arrive on shelves at the wireless carrier with support for its 4G LTE network, as well as with WiFi capabilities.
Moreover, the handset features quad-band EDGE, 850/1900 HSPA+ radios, in addition to LTE, which suggests that it could be powered by a Qualcomm Krait S4 CPU, Android Central notes.
The handset should arrive on shelves later this year with Google’s Android 4.0 Ice Cream Sandwich on board, while featuring a 720p screen.
Although there have been a long series of rumors regarding the landing of this device at the wireless carrier, no official info on it has emerged so far.


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In a separate study, Forrester Research found that the proportion of marketers using mobile has stagnated at less than one-third. Worse, only 21% say they plan to add mobile to their marketing mix in the next year, compared to 36% a year ago. About half of the agencies polled by the MMA characterized mobile marketing as "experimental," and most described campaign results as "average."
Both Forrester and the MMA predict strong growth for mobile ad spending this year, despite the wider pullback. But growth rates for emerging categories often seem gaudy compared to established categories since they are starting from much smaller bases.
At the MMA's Mobile Marketing Forum in New York last week, panelist Brian Quinton, executive editor of Chief Marketer, said he was not especially surprised by the study findings. "I think a lot of people are still in the learning process with mobile," he said. Nothing new there. What momentum there is around mobile media and advertising is being driven by devices -- the iPhone and a growing field of smartphone rivals.
That's a lot different than the Internet or television. Imagine Facebook or "House" depending on what type of PC or TV set someone was using for their success. But until smartphone technology becomes more ubiquitous across the wider mobile population -- akin to the shift from dial-up to broadband Web access -- the best devices will call the tune (or iTunes) in the wireless realm.
If, as rumored, Apple lowers the price on the new iPhone, from $199 to $149 or $99, that would mark another step toward turning the smartphone into a mass media platform.


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Unilever Names Insider Alan Jope as CEO to Succeed Polman
(Bloomberg) -- Unilever named Alan Jope, head of its beauty and personal care division, to succeed Paul Polman as CEO. The new chief will take over on Jan. 1.
- Polman will support the transition in the first half of 2019, the company said.
- Jope, 54, is somewhat of a surprise choice to run the maker of Dove soap and Ben & Jerry’s ice cream, as market speculation had focused on other internal candidates.
- The appointment of Jope, who’s sought to increase Unilever’s profitability by assembling a division called Prestige through acquisitions of high-end skin-care brands such as Ren and Dermalogica, comes at a time when the consumer goods industry is under pressure to widen its margins
- Jope used to run the company’s China operations, whose performance under the CEO-in-waiting has received praise from Polman, who is 62. The executive also has experience in the company’s food arm, giving him knowledge of both of its key business areas.
- Analysts had said that scrapping plans to consolidate Unilever’s headquarters in the Netherlands, following dissent from some U.K. shareholders, could accelerate Polman’s departure.
- Unilever shares rose 4.8 percent to 49.20 euros so far this year, compared with a 4.6 percent decline in Amsterdam’s benchmark AEX index.
- Read the statement here
©2018 Bloomberg L.P.


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New York men’s fashion week wants to bring designers back to the US
Men, of course, have always worn clothes. But it’s only in the past few years that a tide has turned, and more men have taken an interest in style. Athletes like Cam Newton and stars like Kanye West have been given some credit for killing off the 2000’s term metrosexual.
“It’s a recent thing that men are becoming OK with the idea of shopping, basically,” said Jian DeLeon, menswear editor at trend forecasting company WGSN. “But still, the general American men’s consumer is not someone who takes risks — that’s more on the international scale. What does Europe have that New York doesn’t? One of the main things is that the idea of fashion as the aspirational construct is more fully embraced there.”
To read the rest of this story, please visit Glossy.
‘Its inevitable’: Domino’s hungers for attention and context
Attention-based buying is turning into a legendary tale of patient and nonchalance. So when there’s a glimpse of progress, marketers tend to take notice. Domino’s being one of them.
Why Cars.com is driving away from performance marketing and toward influencers
To boost brand awareness, Cars.com is doubling down on its influencer marketing efforts.
Why Unity Technologies is leaning into AI as economic headwinds pick up
As one of the largest gaming companies listed on New York Stock Exchange, Unity Technologies leaned into AI during its May 10 earnings call, with Unity CEO John S. Ricciatello stressing Unity’s “competitive advantages in and around AI.”
SponsoredWhat the measurement and currency discussion really means to TV advertisers
Ali Mack, head of TV and agency, Experian Major streaming video providers have recently made headlines by adopting new currencies for ad measurement, threatening Nielsen’s long-standing TV ratings monopoly. NBCUniversal, for example, has certified iSpot and VideoAmp as currencies for advanced audiences and formed the Joint Industry Committee with Paramount, TelevisaUnivision and Warner Bros. Discovery. […]
Dopamine rush to deeper engagement: short-form video boom fuels brands’ embrace of longer-form content
Audiences craving more are now being treated to captivating longer-form narratives. It’s the addictive nature of those quick hits that has fueled this transformation.
How gamers’ engagement with short-form video is changing
To better understand how modern gamers are engaging with short-form video, Digiday teamed up with Gamesight to pull key points from an exclusive report on gamers’ shifting video consumption preferences.


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The latest issue of Famitsu includes special coverage celebrating the 10th anniversary of Spike Chunsoft’s Danganronpa series. It also has a new interview with Kazutaka Kodaka, the original creator of Danganronpa who left Spike Chunsoft to found Too Kyo Games, in 2018. In it, he explained that he believes we could see a new Danganronpa game and he isn’t opposed to being involved. [Thanks, Ryokutya2089.]
In the anniversary interview, Kodaka said he does not consider Danganronpa to be a finished series. He believes that a new sequel will eventually come out, and he might even join the development for that game.
Here are some highlights from the
Famitsu interview with Kodaka:
- “I bragged that Danganronpa V3 was my best masterpiece because I intended to end it neatly. It will be difficult to create a new game that exceeds it.”
- “The voices that desire a sequel have gotten stronger. As long as the environment between myself and Spike Chunsoft has been set up, the probability is not zero.”
- “I feel like I may be able to make one new game in my future as a creator.”
- “I cannot thoughtlessly say which creator I’d like to leave the project to.”
- “[Kotaro] Uchikoshi may also be a good candidate, but I cannot bring myself to have negative opinions, so it may be better for me to create it myself.” (strained laugh)
- “We will soon be able to reveal the thing that I have been working on with Spike Chunsoft.”
The Danganronpa series is currently celebrating its 10th anniversary, as its first entry was released on the PlayStation Portable in Japan on November 25, 2010. The latest installment in the series is Danganronpa V3: Killing Harmony, which launched worldwide in 2017 for the PlayStation 4, PlayStation Vita, and PC.


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HSBC enjoyed a better-than-expected first quarter as the global economic recovery gained traction.
The UK bank said Tuesday that pre-tax profit jumped 79% to $5.8 billion in the three months ended March, despite revenue dipping 5% to $13 billion.
HSBC said the improving economy allowed it to release $400 million that had been set aside to cover pandemic losses. All regions were profitable, and the United Kingdom was a bright spot — pulling in more than $1 billion in pre-tax profit.
"We had a good start to the year," CEO Noel Quinn said in a statement Tuesday. "The economic outlook has improved, although uncertainties remain."
The lender has been restructuring as it works to recover from the impact of the coronavirus pandemic. It announced in February that it would push harder into Asia, particularly China, southeast Asia and India.
In 2020, HSBC's pre-tax profit fell to $8.8 billion, a 34% slump compared to the year before. It has been especially hit hard by record low interest rates, prompting it to place more emphasis on fee-generating businesses.
HSBC's stock in Hong Kong rose 1.9% on Tuesday, while its shares in London ticked up 1.1%.


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Russell Kay appointment
Now CTO at Dundee developer YoYo Games.
March 10th, 2010 – Dundee, Scotland – YoYo Games Ltd today announces that Russell Kay has accepted the position of Chief Technology Officer “CTO” effective immediately.
Russell Kay has been involved in the development of some of the world’s best known Video Games titles, beginning in the mid 1980’s with “Lemmings” which is still recognised as one of the world’s most successful games.
Russell was the Founder and CEO of Visual Science Ltd. The company was best known for producing the Formula 1 racing titles for Electronic Arts, but also produced the first Grand Theft Auto game, as well as titles in the Medal of Honour series.
Most recently Russell has been working as a Senior Software Architect on, as yet unannounced projects for Real Time Worlds.
“Having such a seasoned industry professional directing the future development of Game Maker, our world leading website and helping us to get our publishing business established is a major coup for YoYo Games and our community”, commented Sandy Duncan YoYo Games’ CEO, “Russell will be establishing an industry leading team to make our vision of becoming one of the world’s most prolific publishers of handheld games a reality.”, he added.
“I’m delighted to be part of a unique and exciting company that intends to nourish create a new generation of games developers. This is like the upswell that created the “BritSoft” phenomenon of the 1980’s, only on a Worldwide basis.”, said Russell Kay speaking at the announcement in Dundee. “There are already thousands of potential hit games being created today using Game Maker and it’s our intention to further develop this unique product to provide a platform that will allow the best developers to achieve their dreams of creating great new games franchises. ”
The website ( www.YoYoGames.com) is dedicated to the Game Maker Community and currently has more than a Quarter of a Million registered users and is visited by a worldwide audience of more over One and a Half Million people every month, making YoYo Games the single largest community of Game Developers on the Internet.
YoYo Games Ltd is a UK Based Games publisher, founded by Game industry veteran, Sandy Duncan and Professor Mark Overmars of the University of Utrecht. YoYo Games launched its beta site in May 2007. and has grown to be the world’s largest user generated games destination with almost 80,000 games uploaded to date.
You can visit YYG at www.YoYoGames.com
For further information please contact Sandy Duncan at YoYo Games Ltd:- firstname.lastname@example.org


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The ink is permanent on a “Shark Tank” deal landed by a Thornton-based dry-erase whiteboard startup.
But it’s a bit different than the one seen on TV.
Anthony Franco, founder of McSquares (pronounced M-C-squares, like the equation), told BusinessDen that he closed his deal with investor Kevin O’Leary in July.
In an episode filmed in June 2019, and aired on ABC this past May, O’Leary — otherwise known as “Mr. Wonderful” — agreed to invest $300,000 for a 25 percent stake in the company. But that changed in the months since, to $50,000 for 11 percent.
“I would have been willing to simply give Kevin equity for his reach and influence, and I even offered that initially,” Franco said. “He insisted on putting capital in, and we wound up at 11 percent for $50k. As he says on-air, he doesn’t get out of bed for less than 10 percent.”
“I don’t view it as losing $200k; I view it as gaining 15 percent of my company back,” Franco later added. “We’re not cash poor as a company. We’ve had good investments and we have revenue, so having Kevin O’Leary on as a strategic adviser was definitely worth more than 10 percent, and the cash was just a bonus.”
McSquares, which Franco founded in 2016, produces reusable sticky notes, dry-erase tiles and desktop whiteboards. Last month, the company moved into 25,000 square feet in Thornton, a space four times the size of the one they vacated in Denver.
After Franco and O’Leary shook hands on camera, O’Leary’s due diligence team, which is essentially made up of merger and acquisition experts, conducted background research on the company and Franco and sifted through its books to make sure the numbers presented on the show were accurate.
“Your introduction is truly the first time the ‘sharks’ see your face,” Franco said. “They have no briefing about who you are or your company, so not only do they have their capital on the line, but they also have their reputation of making good investments in good founders. They really spend a lot of time looking at the companies before they complete the transaction, and quite a few, from what I understand, actually fall through.”
In addition to helping McSquares with marketing, O’Leary has already helped the company launch a crowdfunding campaign on StartEngine 48 days ago, so customers can invest in the startup’s success. As of Monday, the company has raised $504,420 of its $700,000 goal with less than 50 days to go.
Franco plans to use the funds to continue McSquare’s expansion into several product lines, as well as several new sales channels, including exporting into Europe.
“O’Leary’s media reach is extensive and exceptionally valuable, and he is a great spokesperson for us,” he added. “I did some analysis and estimate the public relations value he brings in the next two years is well over $2 million, and that value does not include his reach into retail, licensing, and strategic partners.”
McSquares did nearly $1 million in sales last year, prior to its Shark Tank episode airing. In the first quarter of this year, the company saw a 600 percent growth in sales. In the second quarter, it saw 500 percent growth year-over-year, Franco said.
“We’re seeing this incredible uptick in people looking for what we do, and to the point where this month, we’re going to sell 500,000 Stickies, which is enough to replace a billion paper sticky notes in landfills, or 21,000 cubic feet of paper,” Franco said.
This week, the company also announced its largest education deal to date — selling personal whiteboards to 6,600 students in the Novi School District in Michigan.
“The Novi deal is a direct result of learning from home amidst the pandemic,” Franco said. “What the school district liked about our product is the durability of our McSquares surfaces because students can use them at home and put them in the backpack and bring them to school, and the teachers are using them in webcam lessons for remote learning.”


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Are you confused after reading the headline? Don't worry, so is everyone else who's had a chance to look at this latest device from Korean mobile giant Samsung. Their latest smartphone for the Chinese market is powerful, modern, and sports a vintage design. Apparently Samsung is trying to capitalize the affinity many consumers have for the flip phone, or clamshell, design by combining its form factor with a modern twist in the new SCH-W2013. Did you think there would be a time when we would call the flip phone design unique?
The device is not the most powerful device on the market, but it's certainly up-to-date and packs more of a punch than one might expect from such an old form. It's definitely not a standard device that you're going to see millions of Chinese users carrying, particularly because of its fairly outlandish price tag; coming in at a steep $3,000. You read that right.
It's actually not the first time that Samsung has pushed a super expensive smartphone/flip phone combination in China. Just a year ago the company launched the W999, which also featured two screen and the Android OS. Before that was the W899, so really the company has a fairly established history of pushing this design style, despite how foreign it may seem in other markets.
How does a giant mobile device company pitch such a different device to the growing Chinese market? By enlisting the services of Mr. Jackie Chan. He's not merely the spokesperson for the device, the phone was actually designed for him specifically. The device was unveiled at a charity event, during which the movie star was handed his own W2013 and kicked off their marketing campaign.
So what kind of specs can consumers expect from this device? Here are the details straight from Samsung China:
- Clamshell Design
- Dual 3.7-inch Super AMOLED
- Quad-Core 1.4GHz Processor
- 2GB RAM
- 16GB Storage
- GSM 900/1,800/1,900MHz
- CDMA 800/1,900MHz
- Android 4.0
- 800×480 WVGA Resolution
- Bluetooth 4
- Wi-Fi Capable
- 8MP Camera
- 1.9MP Front-Facing Camera
- Size 117.8 x 60 x 16.83 mm
The device is running Android 4.0 Ice Cream Sandwich along with Samsung's own TouchWiz UI. The OS will undoubtedly need a few adjustments to accomodate the design, and there's no clear indication of how much functionality each screen will give users. The phone also features connectivity to both the GSM and CDMA networks, each with their own SIM slots.
There's no official plan to release this device in other markets.


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Retail Sales Performance 2020: Opportunities in E-Commerce
Retailers were in for an uphill climb this year as the pandemic hampered retail sales performance and is projected to bring profits down 90% by the end of 2020. Physical retail was the hardest hit sector as stores were forced to shut down at the height of Covid-19. With new rounds of lockdowns imposed as […]
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We take a closer look at the key trends shaping the way we’re approaching health and wellness today.
Over the past two years, health and wellness have been more under the spotlight than ever, with the global pandemic highlighting the importance of taking care of ourselves – both inside and out. In today’s fast-paced world, it’s all too easy to let self care and our health take a back seat, but failing to take care of the basics can leave anyone feeling stressed out and at risk of illness.
While the rapid spread of Covid-19 undoubtedly served as a reminder of the importance of cleanliness, hygiene and overall health, the knock on effects of ongoing lockdowns, home schooling and all round uncertainty on our mental wellbeing were just as concerning as the virus itself, and forced many to take time out to reassess what was really important.
Despite the fact that since then, the pandemic has eased, the effects remain wide reaching, and with additional socio-economic and political stressors also now in play, looking after mind, body and soul remains as important as ever. Here, we take a look at the key trends shaping the way we’re approaching health and wellness today.
Slowly but surely, the diet industry is beginning to realise that one size doesn’t fit all when it comes to nutrition – but this doesn’t just apply to losing weight. Every ‘body’ is different, and we each have varying requirements when it comes to everything from cognitive function and energy levels to skin and hair health, so it’s perhaps little wonder that in 2022, we’re shunning cookie cutter eating plans and generic guidance in favour of personalised nutrition and supplementation programmes.
The number of women consulting nutritionists for guidance is growing, and we’re investing more in health foods and supplements as a result of the new insight we’re gaining into our personal needs. Sales of women’s health supplements and sugar free multivitamins such Chewwies are at an all-time high as we seek to optimise every aspect of our health – and companies offering tailored plans are also on the rise. No longer is it necessary to fill your cupboard with bottle upon bottle of different tablets and capsules to get what you need into your body, and a simple online quiz is now all it takes to have one customised tablet designed to meet your daily requirements.
Medicinal mushrooms have been a hot topic for some while now thanks to their therapeutic properties, and despite having been widely used in traditional medicines for many years now, have only begun to make their way into the mainstream over the past couple of years.
Hailed as the latest and greatest superfood, they’re even now making an appearance in our daily brew, with varieties such as reishi, chaga, cordyceps and lion’s mane the star ingredients in a new breed of coffee. Offering brain-boosting benefits including mood regulation and improved focus, as well as increased energy levels, they’re the perfect addition to your morning cup of joe – and all without compromising on flavour.
A more mindful approach to drinking
The pandemic saw many of us reaching for the nearest wine bottle a little more often than we’d like, with the government’s 4pm daily briefings invariably washed down with a good glass of red. But after a period of surging alcohol consumption, we’re now re-examining our drinking habits and what exactly motivates us to whip out the corkscrew in a bid to take a more mindful approach instead.
Not only are we becoming more aware of how triggers like stress and fatigue can influence our decisions to drink, but we’re also increasingly looking for alternatives – and no- and low-alcohol wines, spirits and beers are growing rapidly to cater to unprecedented demand.
2022 isn’t necessarily about going teetotal, but there’s a definite trend to being a little choosier about when and where we decide to indulge, making for a healthier approach all-round and greater enjoyment when we do decide to treat ourselves to a civilised glass or two.


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Huddle, the world’s only true provider of intercompany collaboration in the cloud, today announced the launch of its BlackBerry application.
With BlackBerry holding almost a fifth (19.4 per cent) of worldwide smartphone market share and more than a third (37 per cent) of US enterprise market share,1 Huddle wanted to ensure that people using the device could connect with their colleagues, customers and suppliers, share information and work better together when on the move.
Recognizing that an increasing number of organizations are introducing smarter, more flexible working practices, Huddle’s BlackBerry app gives people full access to document sharing, project tasks, discussions and whiteboards, as well as a complete view of the user’s personalized dashboard.
“Due to advances in technology, we’re really starting to see a shift in the way people work,” said Andy McLoughlin, Co-founder and Global VP Business Development, Huddle. “With the latest hardware, software and high-speed connectivity, people are waking up to the fact that they can access the information they need, from wherever they are located. They can now work as effectively on-the-go as they can when in the office. Rather than being simply a shortcut to the Huddle web site, the app is a true native app that will make it even easier for staff to connect with their colleagues and securely share information with not only people inside of their business, but also customers and suppliers outside of their organization.”
Huddle’s BlackBerry app, designed and built with the help of Rapid Mobile Media Ltd, is the latest addition to the company’s mobile offering, which includes Huddle for iPhone and Huddle for iPad. The app is optimized for BlackBerry Pearl (8100-8230), BlackBerry Curve (8300-8900), BlackBerry Bold (9000-9700), BlackBerry Storm/Storm2 (9500-9550), and BlackBerry Tour (9630-9650) on BlackBerry OS 4.5 or higher.
The read-only version of the BlackBerry app is free to all users. Upgrading to the fully-featured version costs £2.99 / $4.99 and enables users to upload files, reply to discussions, and edit and manage data. The free version of Huddle for BlackBerry is currently available at http://www.huddle.com/applications/


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By: Aakash Minda, Executive Director, Group Finance & Strategy, Minda Corporation
Industry and the government walk as partners in the story of development. Upholding this very sentiment, the government presented a story of growth in its Union Budget for FY23, with a slew of measures and plans to push industrial growth in India, giving it the edge to walk tall among global economies. The year 2022 stands at the precipice of change for the entire automotive industry across the globe, with disruption visible across quarters. The India picture in this is one of technological and infrastructure growth.
As the industry looks to move beyond the impact of COVID-19, some concerns remain over subsequent mutations of the virus, along with the ongoing shortage of semiconductors, and fluctuating input costs. The positives, however, outweigh the negatives as we look at the year with cautious optimism.
One marked change over the past couple of years has been the en masse adoption of technology. Content streaming apps releasing more movies and TV shows over the past two years than all other major production studios combined is a very clear yardstick to measure changing user preferences. The adoption of the internet as a go-to runs beyond the realm of entertainment, and into sectors of FMCG, medicine, and even the auto industry. Booking vehicles online isn’t a niche anymore, but turning into a volume generator for automakers even as customers remain hesitant to leave the safety of their homes. Several OEMs such as market leader Maruti Suzuki have already started booking purchases and test drives online.
The year 2022 is likely to see this phenomenon bear fruit more than ever, with automakers expected to interact with their customers directly through online bookings, sales, and even after sales service options. The auto component industry is expected to cash into this evolving ecosystem as well, with more access to spare parts and accessories online.
Premiumisation of Vehicles
As India returns to its GDP growth trajectory, and as people get a better standard of living, aspirations for vehicles ‘one category above’ rise as well. Ownership trends over the past few years have shown the desire of the average Indian vehicle buyer to push the boundaries when it comes to buying their dream car or two-wheeler. The overall acceptance of more premium vehicles augurs well for higher margins for component manufacturers, and this trend is likely to stay through 2022 and beyond.
Among the most talked about subjects within the industry, the electrification of vehicles will present a unique opportunity in 2022 as automakers and component manufacturers push to develop better infrastructure and technology to aid higher sales. The year will see more stress on improving battery technology and charging infrastructure within the country to enable wider acceptance of greener vehicles.
Arriving in tandem with the influx of EVs is the presence of connected mobility. Software and hardware are blending into one in the modern-day automobile. Vehicles nowadays come equipped with AI assistants and automated functions such as lane assist, assisted braking, adaptive cruise control..Electric scooters, too, are equipped with touchscreen displays and smart features. More evolved Advanced Driver-Assistive Systems have been finding their way into two-wheelers, HCVs and cars alike, with the trend only likely to gather pace through 2022.
Exports – China Plus One
Even as the domestic auto industry recovers from a two-year slowdown, exports of vehicles and components are expected to aid margins and grow at a faster pace versus local dispatches during the year. Markets of Europe are expected to lead this growth, with green shoots of recovery more visible in the region and a subsequent return in demand. A slew of policies being launched by the Indian government would give manufacturers global competitiveness, pivoting away from China as a more lucrative hub.
The Rs. 260 billion Production-Linked Incentive (PLI) scheme launched by the government in 2021 is expected to serve as a fillip for the auto components sector. It will subsidise the cost of developing advanced auto components for a future-ready auto industry. In the long run, once domestic manufacturers gain scale and expertise, the scheme has the potential to further aid India in becoming a global hub, manufacturing components in India for the world.
Short- and long-term Challenges
In the short term, the Omicron threat, along with that of subsequent mutations would keep the optimism cautious. However, with the government’s push to vaccinate people bearing fruit, and with over 1.7 billion doses having been administered (according to government data), there continues to be hope for a quicker recovery.
On the supply side, constraints in the manufacturing of semiconductors would keep the production-delivery equation tight, with in-demand vehicles expected to have longer waiting periods over the coming months. As mobility options get more dependent on technology, and the need for semiconductors grows further, this shortage is expected to dampen production volumes over the first half of 2022 as well.
A concern in the longer term remains the setting of well-defined roles for OEM’s and auto component players to mutually share competence in technology to aid higher localisation. The optimisation of the value chain is critical to ensure solutions are created for a wider use, enabling their optimum utilisation.
The challenges, while a concern, aren’t insurmountable. The opportunities presented through a change in the paradigms of vehicle technology and their adoption present a glimmer of hope for the year as the automotive industry aspires to drive past the muted numbers in 2021.
Disclaimer: The views and opinions expressed in this article are solely those of the original author. These views and opinions do not represent those of The Indian Express Group or its employees.


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The IT outlook for 2021, prime traits and steerage because the enterprise prepares for “the following regular,” in keeping with a brand new report from IDC.
Neglect the brand new regular. Analysis from Worldwide Information Company (IDC) is now analyzing “the following regular,” highlighting notable traits and the future for the enterprise in a new IT outlook for 2021.
In its report, “The Future Enterprise: The Subsequent Regular Priorities Driving Expertise Investments,” IDC discovered that largely attributable to cloud and distant work assist, precise market efficiency, particularly within the US, has been stronger than survey and market indicators had beforehand predicted.
Digital transformation has been a critical differentiator for enterprise disaster restoration.
“Total data and communications know-how (ICT) spending is predicted to have a 5% compound annual progress charge (CAGR) by way of 2024,” mentioned Crawford Del Prete, IDC president. “By way of whole IT spending, we’re seeing a extra shallow V-shaped drop this yr. Complete IT spending will drop to about 1% progress this yr, however that is far stronger than the three% decline that was anticipated earlier within the yr.”
A stronger PC quantity and concentrate on safety have been strengthened due to stabilized cloud and digital companies pushed by service-provider investments.
Forty-two p.c of know-how determination makers indicated that their firms have plans to additional spend money on know-how in an effort to shut the digital-transformation hole, in keeping with the IDC survey.
SEE: Social engineering: A cheat sheet for business professionals (free PDF) (TechRepublic)
The pandemic impact
“The pandemic created a enterprise necessity for growing know-how funding and accelerating digital transformation timetables,” mentioned Meredith Whalen, chief analysis officer at IDC. “What we’re studying is that many of those initiatives that began as methods to mitigate the financial affect of COVID-19 have turn into everlasting roadmap necessities for Future Enterprise success within the digital financial system.”
1. Digital parity
The following regular for Future Enterprise was defined by the identification of three overarching initiatives linking investments in know-how and the trouble for digital transformation, which creates digital parity throughout the workforce, and design efforts to fulfill new buyer calls for, per IDC.
The pre-pandemic common group had 14% of its workforce working remotely, which has since elevated to 45%. Many organizations predict that work-from-home workers will proceed as a big a part of the disparate workforce after the pandemic.
Improvements have delivered the identical connectivity and productiveness instruments to hybrid and distant employees that they as soon as had as brick-and-mortar workers, which, the survey famous, will likely be important to long-term success.
- 75% of the G2000 will decide to offering technical parity to a hybrid workforce, developed as such, quite than derived by circumstance by 2023, which can allow workers the power to work in actual time, collectively individually.
- The enterprise will lengthen desktop and workspace by spending a further $2 billion, as a G2000 service
2. Design based mostly on new buyer calls for
IDC’s US shopper survey revealed that 47.6% of US shoppers are “very involved” about their well being, because of the COVID-19 virus, a security concern that spurred many companies to develop contactless shopper companies, i.e. curbside pickup. Search for an funding in design and consumer interface necessities for continued contactless course of automation and concentrate on cellular apps offering voice-based experiences and self-service choices.
- A 35% improve in funding in onsite or close by micro-fulfillment facilities will likely be pushed by the curbside or in-store pickup of 75% of grocery e-commerce orders by 2023.
- Subsequent yr, to assist contactless course of automation, 40% of growth actions will reprioritize design and consumer interface.
3. Accelerating automation initiatives
In an effort to assist the larger scale required for digitally pushed enterprises, automated IT operations practices will likely be adopted. Robotic course of animation (RPA), robotics, and synthetic intelligence (AI) tech will all play essential roles in labor automation and concentrate on autonomous operations will drive investments in digital engineering organizations and digital operations know-how.
- Search for the automation and/or augmentation utilizing digital coworkers courtesy of AI, robotics and RPA for 45% of repetitive work duties in 2022.
- 75% of G2000 IT operations will undertake automated operations practices to assist their IT workforce by 2023.
The coronavirus and its affect on trade
The IDC survey checked out COVID-19’s affect on industries and located the coronavirus created distinctive conditions for particular industries, together with healthcare, hospitality, retail, and small and medium companies (SMBs), which required them to rethink how they use know-how for buyer engagement.
- Healthcare: Going ahead, telemedicine will likely be a everlasting fixture. With practically a 3rd of shoppers considering having a telemedicine possibility post-pandemic, healthcare suppliers are predicted to extend spending by 70% by 2023 on related well being applied sciences.
- Hospitality: 85% of hospitality manufacturers will implement self-service applied sciences by 2021, altering how they have interaction with company, regardless of it being often known as a “people-based” trade.
- Eating places: Initially closed for weeks when the pandemic struck, eating places turned to necessity-based residence supply because the restaurant trade took the financial brunt of the pandemic. Put up-pandemic, 30% of eating places utilizing third-party supply platforms will deploy supply choices to get rid of third-party charges, growing revenue by 25%.
- Retail: The pandemic drastically elevated the adoption and use of contactless funds, and will likely be seen as a customer-experience crucial going ahead, inflicting 85% of shops to supply a minimum of two contactless cost choices by 2023.
- SMBs: At the least 30% of SMBs will fail by 2021, which can result in a brand new wave of microbusiness powered and ecosystem-first disruptors by 2023. These microbusinesses will likely be single workers who leverage the facility of a digital platform to acquire and fulfill work.


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Sprint Nextel Corp
Japan's Kyocera and Sprint Nextel, the No. 3 U.S. mobile provider, said the phone, which they showed off at a New York event on Monday evening, would be available this Spring to Sprint customers who sign up for a 2-year contract.
The event, kicked off by magician David Blaine, comes days before Verizon Wireless kicks off sales of Apple's iPhone, which is expected to draw huge interest by ending AT&T Inc's
The phone, to be called the Echo, is expected to mark a big step up from Kyocera's most recent U.S. offerings, which were typically more basic devices.
Along with Google's increasingly widely adopted Android software, Echo will feature two 3.5-inch screens hinged together that can be used in tandem for different things, such as viewing the Internet and videos.
Sprint said the phone was designed to improve the screen size available for using one application such as email, but also support a different app on each screen at the same time.
Fared Adib, Sprint vice president for product development, said the device was designed for the roughly 70 percent of people who like two forms of entertainment at the same time such as surfing the web while watching television.
What we really wanted to do was bring something in the market that was pocketable and portable, but gave you the extra screen real estate, Adib said.
CCS Insight analyst John Jackson said that, since many phones have taken on a shape similar to the iPhone, phone makers are looking for ways to distinguish themselves.
Another avenue they have pursued is tablet computers, a market where Samsung Electronics Co Ltd <005930.KS> and Motorola Mobility Holdings Inc
The next new thing for this year may be dual-screen devices, Jackson said.
Most vendors are working on dual screen phones. It's similar to the tablet in that it's a speculative market, but it makes sense to experiment, Jackson said.
Sprint shares were up 2 cents, or 0.45 percent, at $4.42 on the New York Stock Exchange.
Bloomberg first reported the imminent launch of the Kyocera phone earlier on Monday.
(Reporting by Sinead Carew; editing by Steve Orlofsky and Andre Grenon)


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The news has led to rising concerns about the onset of ‘lockdown fatigue’, Kronen Zeitung reports.
The anonymous information which tracks people’s movement via mobile phone data showed a significant decline in movement during the Spring lockdown.
In Autumn however, the decline was less significant – with Austrians apparently taking the lockdown much less seriously the longer it went on.
During Spring, the number of Austrians who moved more than a kilometre a day shrank from 73 percent to 45 percent.
In the summer, values returned to normal.
But when Austria’s strict lockdown was announced amid a rise in new infections, mobility fell to around 56 percent, before increasing to around 65 percent in the final days of the lockdown.
On Wednesday December 9th, the levels were already back to those before the November 17th lockdown.
The researchers say that the results show a growing “fatigue” with the lockdown rules.
“I am also curious to see how things will continue in the remaining days in December,” spokesperson Mario Mayerthaler told Kronen Zeitung.
“The question will be whether the current mobility is sufficient to reduce the number of cases in the future,” said Mayerthaler,
One positive of the findings was that the rules seemed to prevent the annual Christmas shopping rush up until this point, with mobility around half of usual Christmas shopping levels.
The information was compiled by telecommunications company A1 and Invenium, from the Graz University of Technology.
Information is gathered using SIM card connections with phone masts, enabling researchers to see movement of mobile phones anonymously.


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The Air Force released the list Thursday of 999 master sergeants selected for promotion to senior master sergeant. The airmen were selected from a pool of 14,823 master sergeants for a promotion rate of 6.74 percent, down from 10.65 percent of ... Air Force Times, 1 week ago
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04/10- Officers were called to a store in Coolidge Corner (Harvard St) to take a report of a stolen wallet. The victim reported that they had dropped their wallet within the store, and when they went to look for the wallet, it was gone. Store employees were able to confirm through video that an unknown subject picked up the wallet, and nothing was turned into the store as found proprety.
04/11- Officers took a report from a resident of Amory St. The resident reported that their vehicle that had been parked in a garage on Dummer St. had been entered during the night and multiple items were taken.
04/11 Officers responded to a residence on Summit Ave and spoke to multiple residents who reported that multiple packages that were delivered to the building had been opened and gone through.
04/12- Officers responded to a business on Commonwealth Ave for a reported shoplifter. Employees reported to the Officers that a customer had left the store without paying for multiple items.
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An online service boldly advertised in the cyber underground lets miscreants hire accomplices in several major U.S. cities to help empty bank accounts, steal tax refunds and intercept fraudulent purchases of high-dollar merchandise.
One of my Twitter account followers whose tweets I also follow — @spacerog — shared with me the following image, which he recently snapped with his phone while waiting in line at the Philadelphia Federal Credit Union. It’s an excellent public awareness campaign, and one that I’d like to see replicated at bank branches throughout the country.
Miscreants in the cyber underground are selling an exploit for a previously undocumented security hole in Oracle’s Java software that attackers can use to remotely seize control over systems running the program, KrebsOnSecurity has learned.
A zero-day vulnerability in yahoo.com that lets attackers hijack Yahoo! email accounts and redirect users to malicious Web sites offers a fascinating glimpse into the underground market for large-scale exploits. The exploit, being sold for $700 by an Egyptian hacker… Read More »
Many security-savvy readers of this blog have learned to be vigilant against ATM card skimmers and hidden devices that can record you entering your PIN at the cash machine. But experts say an increasing form of ATM fraud involves the use of simple devices capable of snatching cash and ATM cards from unsuspected users.
A week ago Friday, the U.S. Justice Department announced that MoneyGram International had agreed to pay a $100 million fine and admit to criminally aiding and abetting wire fraud and failing to maintain an effective anti-money laundering program. Loyal readers of this blog no doubt recognize the crucial role that MoneyGram and its competitors play in the siphoning of millions of dollars annually from hacked small- to mid-sized business, but incredibly this settlement appears to be unrelated to these cyber heists.
What does a young Chinese hacker do once he’s achieved legendary status for developing Microsoft Office zero-day exploits and using them to hoover up piles of sensitive data from U.S. Defense Department contractors? Would you believe: Start an antivirus firm?
That appears to be what’s happened at Anvisoft, a Chinese antivirus startup that is being somewhat cagey about its origins and leadership. I stumbled across a discussion on the informative Malwarebytes user forum, in which forum regulars were scratching their heads over whether this was a legitimate antivirus vendor. Anvisoft had already been whitelisted by several other antivirus and security products (including Comodo), but the discussion thread on Malwarebytes about who was running this company was inconclusive, prompting me to dig deeper.
Microsoft today issued six software updates to fix at least 19 security holes in Windows and other Microsoft products. Thirteen of those vulnerabilities earned a “critical” rating, which means miscreants or malicious code could leverage them to break into vulnerable systems without any help from users.
Researchers in Norway have uncovered evidence of a vast Middle Eastern espionage network that for the past year has deployed malicious software to spy on Israeli and Palestinian targets. The discovery, by Oslo-based antivirus and security firm Norman ASA, is… Read More »
Software vendor Adobe says it is investigating claims that instructions for exploiting a previously unknown critical security hole in the latest versions of its widely-used PDF Reader software are being sold in the cybercriminal underground.
The finding comes from malware analysts at Moscow-based forensics firm Group-IB, who say they’ve discovered that a new exploit capable of compromising the security of computers running Adobe X and XI (Adobe Reader 10 and 11) is being sold in the underground for up to $50,000. This is significant because — beginning with Reader X– Adobe introduced a “sandbox” feature aimed at blocking the exploitation of previously unidentified security holes in its software, and so far that protection has held its ground.


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TomTom?s Latest Cutting Edge NAVI Unit ? A Super NAVI?
The new TomTom GO LIVE 1000/1005 is the first in a whole new generation of navigation devices, designed to bring real-time services to millions of drivers. Based around a powerful ARM 11 500 Mhz processor, the device also showcases a new Webkit-based user interface and the latest capacitive touch screen technology. TomTom has now released its high-end GO LIVE GPS Navi units, packed with hot new features. The TomTom GO LIVE 1000 and 1005 incorporate larger and finger-friendly 5? touch screens with HD Traffic, a slick magnetic mount, speedier route calculations and TomTom?s richest maps yet.
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Streaming giant Netflix will begin its crackdown on password sharing in the first quarter of this year, after the release of its company earnings report to shareholders last week.
The practice of sharing passwords with people outside the subscriber’s household will become more complex and is likely to involve an additional fee to share a single subscription across multiple locations.
“As we roll out paid sharing, members in many countries will also have the option to pay extra if they want to share Netflix with people they don’t live with. As is the case today, all members will be able to watch while travelling, whether on a TV or mobile device.”
Based on a trial of the new stricter rules in selected Central and South American countries last year, the company conceded it expected a negative reaction in the short term.
“As we work through this transition – and as some borrowers stop watching either because they don’t convert to extra members or full paying accounts – near term engagement, as measured by third parties, like Nielsen’s The Gauge, could be negatively impacted,” the statement said.
“However, we believe the pattern will be similar to what we’ve seen in Latin America, with engagement growing over time as we continue to deliver a great slate of programming and borrowers sign-up for their own accounts.”
Netflix has been no more specific than “later in Q1’23” on when the crackdown will begin.
The new model could see Netflix users in, for example, Australia paying about AU$4 extra a month if last year’s trials in Costa Rica, Chile, Peru, Argentina, El Salvador, Guatemala, Honduras and the Dominican Republic are a guide. Those countries were targeted by the company because password sharing appeared to be particularly common there.
Subscribers had no restrictions placed on mobile devices such as smartphones, tablets or laptops, to enable legitimate users to still access their accounts while travelling.
But the new system may put an end to logging into your account to watch a Netflix show at a friend’s or relative’s house, as well as sharing a single subscription across multiple houses.
Netflix’s director of product innovation, Chengyi Long, explained in an updated blog post in October how the new system could work. Only one home will be permitted on a single Netflix account, but can be used across multiple devices. To add additional households an additional monthly fee will apply (in most Latin American countries it was $US 2.99). While travelling the account will only be accessible by tablet, laptop or mobile. Subscribers will be able to log on to remove unwanted households from their account.
“Today’s widespread account sharing between households undermines our long term ability to invest in and improve our service,” she said.
“So we’ve been carefully exploring different ways for people who want to share their account to pay a bit more.”
In 2022 Netflix lost 200,000 customers in the first quarter alone, and conceded it expected to lose two million more in the second quarter. The company blamed the drop on a number of factors including increased competition and the war in Ukraine
Long did not outline how Netflix plans to enforce the new system.
In the Latin America trials, if a change in location of an account being used is detected for more than two weeks, the holder receives an in-app notification giving them the option of changing their household address or pay a fee to add the new address.
In an interview with Variety on 19 January, Netflix co-CEO Greg Peters admitted the crackdown on shared passwords would “not be a universally popular move” and the company would begin enforcing the new regime by giving customers who continue to share accounts “a gentle nudge” to pay extra for multi-household use.
In the report to shareholders the same day, Netflix reported a total of 231 million paid memberships in 2022, $US32bn generated in revenue and $US5.6bn generated in operating income.
Netflix Australia declined to comment, saying last week’s shareholder communication on the issue was the most up to date.


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Two more members of the Apple family just got put in the ground. On Thursday, a company spokesperson confirmed to The Verge that it has "officially discontinued" the iPod Shuffle and the iPod Nano.
Tagged With discontinued
McDonald's in the US will no longer be shipping fitness trackers with its Happy Meals. The fast-food giant is discontinuing the cheap step-counters it was set to include in kid's meals because the plastic bands are giving children rashes.


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New Monaro V8 arrives in Britain
Vauxhall’s muscle car revised for 2005
More power, chassis tweaks and brawnier looks
354PS of V8 performance for just £29,895
On sale from 10 March
No one ever accused the Monaro of lacking brawn, but that hasn’t stopped Vauxhall sending its muscle car for a thorough workout. After its strict training programme, the Australian-built super coupe has finally emerged looking meaner than ever. And the stylish twin bonnet scoops, bigger air dam, two big-bore exhausts and new 18-inch wheels aren’t just for show – the latest model has more power, bigger brakes and a heavily-revised chassis too.
The heart of the Monaro – its 5.7-litre V8 – has been tweaked with a new induction system, a free-flowing exhaust, reprofiled cams and engine management to give even more power and torque. Besides improving the distinctive exhaust note rumble, the improvements mean the engine now produces a massive 354PS (up from the previous model’s 333PS) while torque rises from 343lb.ft to 353lb.ft (500Nm). Performance figures have yet to be set, but it’s estimated that the new Monaro will comfortably exceed 160mph and should hit 60mph from a standstill in around 5.6 seconds.
To tame the power and further improve the Monaro’s dynamic handling, the chassis has been uprated with sportier suspension settings. Lightweight steering components are now fitted to improve feel and feedback, while relocating the fuel tank has improved overall weight distribution. New 320mm ventilated front discs, borrowed from the latest Corvette C6, make sure the Monaro stops faster than ever too.
Besides the fully-functional bonnet scoops and new air dam, other visual changes include improved head and fog lamps plus a reshaped rear bumper to house huge twin 63mm tailpipes. In addition to looking beefier and sounding great, the new exhaust system has allowed an aerodynamic tray to be fitted underneath the car to improve airflow at high speeds.
Inside the cabin, an extra pair of instruments has been added to a new central binnacle, and the facia panel now has a modern high gloss ‘piano’ black finish.
Despite the improvements, the price of the Monaro has been kept below £30,000, representing exceptional value – some rivals can only offer smaller coupes with puny four-cylinder engines at this price level. Vauxhall’s specialist network of Monaro retailers are accepting orders right now, and the first cars are expected to reach showrooms in early March.


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Airport Video Content Marketing
The nature of the airport business is changing…
Fasten your seat belts, folks. Airport dining is taking off…
- This shift in airport dining has pushed food and beverage revenues at the top 50 domestic airports to over $3.8 billion. The average food and beverage expenditure per passenger jumped by 14 percent between 2009 and 2012 alone, and continues to grow year over year.
- Longer security lines and delayed flights have pushed traveler dwell time to a whopping hour and 20 minutes on average.
- With more “local restaurant brands” being brought into airports, an education needs to take place to tell their story about cuisine, background, etc. Unfortunately, the perception of airport dining hasn’t changed with the introduction of new, quality options utilizing local chef inspired brands. Airports need to leverage their access to a captive audience and educate travelers in a way to increase capture rate to ultimately boost non-aeronautical revenues.
Bread N’ Butter creates first airport content marketing program with Hartsfield-Jackson Airport
skift.com – September 2015
As both new and aging terminals across the world contemplate how to market their improved food and beverage options, a video producer at Atlanta’s Hartsfield-Jackson Airport will add another perspective to personalized airport marketing later this year. Launching in November, Bread N’ Butter Productions, a video content marketing company based in Atlanta, will introduce a new video marketing program for food and beverage offerings at the airport. Read More >
skift.com – May 2015
Airports Council International (ACI) once urged its members to aim to generate at least 50% of its revenues from non-aeronautical sources and while it is not so doctrinaire today it still recommends that they maximise that potential wherever possible. While some exceed rather than merely achieve that figure many others fail to match it altogether. The search is on to find new and innovative methods of increasing these revenues. One of the most promising is airport advertising though in too many cases it is a side issue and is even overlooked altogether on occasion. Read More >
of travelers watch video before making a destination decision
has grown to become the second most popular search engine behind only Google
of all mobile website traffic is video-driven
video views take place on Facebook every day


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Now available, a members-only manual to assist IFDA members in understanding the requirements of the rule.
Mary Malone of Stay Metrics discusses driver engagement as key to "right retention."
Registration is now open for the 2017 Class at the Darden School of Business.
Bryan Langston of Dot Foods shares concepts that his company teaches in their brand leadership initiative.
Strategic top-to-top discussions that help distributors and manufacturers build business together.
01.19.17 - JD Food is a family-owned broadline foodservice distributor based in the agricultural heart of California and is a member of UniPro Foodservice. With roots dating back to the 1950s, the company today carries more than 5,000 products and offers fresh cut-to-order meat to hotels, restaurants...
As we enter 2017, I want to review IFDA’s key accomplishments in 2016 and provide you with an overview of new init...
According to Stay Metrics, the two biggest factors leading to driver turnover are lack of driver engagement and lack of ...
The International Foodservice Distributors Association congratulates foodservice industry leader Andy Puzder on being ch...
University of Virginia Darden School of Business
Is your company an IFDA member?
NPD expects restaurant industry traffic to remain stalled in 2017. Traffic will also continue its long-term shift away from dine-in brands to QSRs. NPD expects traffic at QSRs to grow 1% this year, while traffic at dine-in locations will fall 2%.
Source: Nation's Restaurant News - NPD: Restaurant traffic won’t improve in 2017
The latest industry news delivered to you daily!


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The Maryland Department of Business and Economic Development
said Thursday that it had selected a Pittsburgh-based software company to build a website for auctioning state tax credits to insurance companies as part of a $70 million economic development initiative to support technology startups.
DBED chose Grant Street Group to build the tax-credit auction site for the InvestMaryland program, which is a cornerstone of Gov. Martin O'Malley
's economic development efforts. The goal of the auction, which will take place in March, is to raise a minimum of $70 million or up to $100 million.
The Maryland Venture Fund Authority, a new state entity created through legislation last year, will place two-thirds of the proceeds from the tax-credit sales in the hands of prequalified venture capital firms, which will invest for the authority in new, Maryland-based technology businesses.
The rest of the proceeds will be used by a separate DBED-operated entity, the Maryland Venture Fund, to invest in new businesses.
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At Business Insider’s IGNITION conference in New York last Tuesday, OkCupid cofounder Sam Yagan talked about How OkCupid Uses Data. At the beginning they didn’t have a lot of fancy psychologists or researchers on staff to tell them what made for a successful match. So they decided to rely on the data users gave them instead.
Yagan touted the accuracy of OkCupid’s algorithm, claiming that the company knows “quantitatively and anecdotally” that its users find better, more compatible matches on OkCupid than on other dating sites.
Yagan said OkCupid could use its data to set up a date between two people who won’t know what the other looks like until they meet in person—your classic blind-date scenario, but arranged by algorithms rather than acquaintances.
That last statement made me look at the date on the post. Was I experiencing Déjà vu? In November of 2007 OkCupid launched Crazy Blind Date.
Social discovery service SNAP Interactive had a lot of news to share about 2012 performance and what’s on tap for 2013.
Jon D. Pedersen, Sr., SNAP’s Chief Financial Officer:
Our focus during the third quarter centered around scaling, testing and optimizing the redesigned AreYouInterested.com product, which we launched in August 2012. As we transitioned to the redesigned product, we again focused on limiting cash burn and ended the quarter at $6.5 million in cash and cash equivalents and investments, down $0.6 million from June 30, 2012.
Deferred revenue increased 17% to $3.3 million at September 30, 2012
compared to $2.8 million at September 30, 2011;
— Quarterly revenue decreased 15% to $4.3 million compared to $5.1 million
for the comparable period in 2011;
— Quarterly bookings decreased 20% to $4.0 million compared to $5.0
million for the comparable period in 2011.
SNAP Re-Launched AreYouInterested.com as a Social Discovery Site.
Other recent launches and features currently in development include:
— On-site communication enhancements including an overhaul to our instant
messaging experience which we anticipate launching in the first quarter
— Smart Match (live) – An algorithm that incorporates a user’s interests,
demographics, and behavioral data to pair users with someone that should
be a good match for them.
— Interest Landing Pages (live) – Interest Landing Pages display users
that have a particular interest, and show videos that are related to
Key traffic and engagement metrics for AreYouInterested.com:
— Monthly Active Users (MAUs) on the AreYouInterested.com app on Facebook
Platform totaled 5.29 million as of September 30, 2012; and
— We averaged over 450,000 daily sessions or visits to our mobile
AreYouInterested.com platforms (including iPhone, mobile web, and
Android sessions) during the third quarter of 2012.
SNAP’s president and chief executive officer, Clifford Lerner:
We believe our recent feature launches are only just beginning to scratch the surface of their potential and, along with a product roadmap full of exciting ideas and further innovation, we eagerly look toward 2013.
Oh SNAP! That is a whole lot of stuff going on.
Bloomberg Businessweek says EHarmony Founder Breaks Up With Investors, Buys Back VC Stake. This is required reading for dating site operators. As previously mentioned, Neil Clark Warren, who founded the company 12 years ago, is taking back control.
Since becoming chief executive officer in July after a series of CEO changes, he’s fired 100 people, cut the board from nine to two and bought back stock from Sequoia Capital and Technology Crossover Ventures, which invested $110 million in 2004.
An initial public offering, which had been expected in 2010, is now off the table and Warren said in an interview he has no interest in selling the Santa Monica, California-based company. Instead, the trained theologian and psychologist will spend next year building EHarmony’s portfolio to add services that help people find the right job, understand themselves and build relationships to reduce loneliness. Gone from the company are the business degrees, and in are social scientists.
See how OkCupid and Cupid LLC and now eHarmony are using their deep experience in algorithmic matching to enter into new markets? Not sure how realistic Dr. Warren’s statement is that eHarmony could be a $5 billion in five years, but let the guy dream.
eHarmony has spent $600-700 million on advertising throughout its history!
Eharmony Australia is responsible for almost one in every 50 marriages over the last five years, which equates to almost 11,000 weddings.
One can only imagine what the eHarmony job search engine will look like. You must be Christian (j/k), you must not have been fired before…
Adult Websites Find Creepiest Use For Facial Recognition Technology So Far. SexFaceFinder (google it) asks users to upload a photo. It then uses facial recognition to find a webcam performer who looks like the person in the original photo. NaughtyAmerica is similar. More details at Jezebel. Thanks @jamesagardner.
Yet another story about how Match got screwed (I mean undervalued) back in the day when they sold to Cendant for $7 million, only to have Cendant turn around a year later and sell it to Ticketmaster for $50 million.
Here’s the full story, including how the founder only got $50,000 from the deal.
The value of the UK online dating market jumped 6% to almost £170m in 2012, with 9.1 million trying it, according to Metaflake.
Niche Dating Site Of The Week: Amish Online Dating.
Social discovery site At he The Pool has some interesting ways to get into “pools” of people with similar tastes. Also gets inspired by Coffee Meets Bagel, going for the “one match a day” thing and raising a $1M seed round. I actually heard from someone at CMB today. Been on the site for months, need to write up my experience.
Zoosk signups for Couple Profiles has reached 3.3 million users in the six months since launching. Today, 15 percent of new Zoosk signups are registered to use Couple Profiles. Behold, a ton of job openings at Zoosk.
Failed background check humor.


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Tuesday, March 6, 2012
WD Ships 2.5-inch SAS Hard Drives
Irvine-based Western Digital announced today that it is shipping a third generation of 2.5 inch, SAS (Serial Attached SCSI) hard drives. The new hard drives are aimed at the enterprise server and storage market, and offer up 10,000 RPM performance and a 6 Gb/s SAS interface, and capacities of 300 GB, 450 GB, 600 GB, and 900 GB. WD said the new hard drives are aimed at use in multi-tiered network storage arrays, and applications like online transaction processing.


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Google is taking a page from Facebook and starting to talk about its homegrown hardware
Historically, Google has treated its homegrown hardware as a trade secret, unwilling to discuss it.
But this week, Google took a big step and started talking more openly, particularly about the networking tech it's invented.
Two things caused Google to change its mind:
One is that its rival down the road, Facebook, has not only been talking about its own technology, but created an open source hardware foundation to give those designs away to anyone for free. The Open Compute Project allows anyone to use those designs, modify them, and share improvements that Facebook can use in turn. Contract manufacturers are standing by to build the hardware.
In four years, OCP has become a phenom extending far beyond Facebook. Goldman Sachs, Microsoft, and even Apple are now part of the project, as are many others, and the project is spawning its own family of startups. Meanwhile, Facebook is getting a lot of credit for some revolutionary bits of networking hardware it invented.
Google is looking at Facebook and thinking: We were inventing our own hardware back when Zuck was still at Harvard!
It's hard on hardware engineers when they've got to keep mum and can't talk about their best ideas and inventions.
Google isn't going quite so far as to create an open source foundation, but it has a second, more valuable business reason for ending its secrecy.
Google sees cloud computing as its next huge business, much like ecommerce giant Amazon built its profitable $6 billion cloud business by letting other businesses rent space on its huge, state-of-the-art technology infrastructure.
For instance, Google created something called the "Jupiter network" which can blast data around at mind-boggling speeds: 1 Petabit/sec.
As Amin Vahdat, a Google fellow and the guy in charge of the technical networking team, writes in a blog post: the network is fast "enough for 100,000 servers to exchange information at 10Gb/s each, enough to read the entire scanned contents of the Library of Congress in less than 1/10th of a second."
Vahdat is talking in depth about the network at the Open Network Summit, being held Wednesday in Santa Clara.
By the way, Microsoft's Mark Russinovich, CTO of Microsoft's cloud, Azure, will also be speaking.
This is the picture Vahdat shared of Jupiter:
- A 29-year-old woman found a mark on her head and was diagnosed with a fungal infection. It turned out to be invasive skin cancer.
- Elon Musk told his 76-year-old dad Errol to 'keep quiet' in a text message after he said he wasn't proud of his son, report says
- JPMorgan CEO Jamie Dimon told wealthy clients there's a chance the US is heading into 'something worse' than a recession, report says
- Nepotism and termite-like corruption dented India : Modi
- Modi lists five pledges to turn India into a developed country in 25 years
- There will be a major shift in the way Indians shop and consume brands
- Modi remembers Nehru and Sarvarkar in his speech today
- Made-in-India gun used for 1st time for ceremonial salute at Red Fort on Independence Day


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BSP In the News
- The Hill: Frank Knapp, Small business opposes multinational corporations' tax avoidance
- Minimum Wage News at our BUSINESS FOR A FAIR MINIMUM WAGE website
- The Hill: Report: Taxpayers shoulder burden for offshore tax haven use
- Paramus Post (NJ): Offshore Tax Havens Cost Average Taxpayer $1,026 a Year, Small Businesses $3,067
- U.S. PIRG, Sen. Levin, Small Business Leaders Release "Picking up the Tab 2013: Average Citizens and Small Business Owners Pay the Price for Offshore Tax Havens"
- American Forum: Scott Klinger, Half Time at the Federal Budget Super Bowl
- Philadelphia Daily News: Talking Small Biz
- Triple Pundit: Don’t Blame Google and Starbucks For Minimizing Tax Bills
- Roll Call: Time for Plan C - Close the Floodgates on Corporate Tax Dodging
- CFO: Small Biz, the Fiscal Cliff, and the Big, Bad Bank
- Westerly Sun: Business leaders urge change in tax system
- McClatchy Tribune News Service: A plea for tax fairness from small businesses
- UPI: 'Fiscal cliff': Is there a Plan C to avoid tax increases, spending cuts?
- Madison Capital Times: Wisconsin business owners join national call to raise corporate taxes
- Charlotte Observer: Charlotte small business owners urge tax reform
- Politico: 'Revenue-neutral' tax reform takes hit
- National Journal: Sen. Levin, Small Businesses Push for Corporate Tax Hikes
- Washington Post: Sen. Levin wants corporate tax revenue in a fiscal cliff deal
- The Hill: Corporate revenues must be in debt deal
- Accounting Today: Small Business Leaders Urge Closing of Corporate Tax Haven Loopholes
The Daily Reveille: Corporations should pay more taxes, poll says
By Emily Herrington
Louisiana State University Daily Reveille, Feb 8 2012
Louisiana small-business owners say national corporations should pay more taxes.
Most small-business owners across the nation support increasing taxes to millionaires and large corporations, according to a poll conducted by the American Sustainable Business Council, Main Street Alliance and Small Business Majority.
The poll reported 90 percent of small-business owners said corporations use loopholes to evade paying taxes that small businesses are required to shell out, and 92 percent consider those loopholes problematic.
According to the poll, 67 percent believe big corporations pay less in taxes than they should.
Scott Klinger, tax policy director for Massachusetts-based Business for Shared Prosperity, said these loopholes include shuffling funds to offshore tax havens and moving plants and factories from the United States to foreign countries.
Both methods help corporations obtain loan deductions and avoid paying U.S. taxes, Klinger said.
"Those are the kinds of things we think weaken the American economy and put small businesses at a competitive disadvantage and unleveled playing field," Klinger said.
If major corporations paid an adequate amount in taxes, Klinger said, pressure would be taken off small businesses.
"There would be more money available to invest in America to do the things we need to do," he said.
Mary Black owns The UPS Store at Citiplace. She said she's committed to standing up for small businesses.
Black said small businesses contribute to the local community, and she believes it's unfair that larger corporations don't offer the same contributions.
"They could be contributing — they should be contributing," Black said. "When they avoid paying taxes, it hurts small businesses."
Black said she supports asking millionaires to pay more in taxes. She said she finds it unfair when corporations "hide" money offshore.
"They're starving the country and, effectively, our state of resources," she said.
Small businesses are committed to serving the community, Black said, which includes paying a fair share of tax dollars.
According to a separate study released by LSU and Baylor University, counties and parishes with more locally owned businesses tend to have healthier residents.
These small business-rich areas tended to have lower obesity, mortality and diabetes rates, the study found.
"Our findings suggest that the rewards of a vibrant small business sector are multidimensional. In addition to job creation, small businesses yield important noneconomic rewards to communities that may improve the health of local residents," said Troy Blanchard, lead study author and University sociology associate professor in a news release.
Contact Emily Herrington at email@example.com
Copyright The Daily Reveille


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Pharmapac has once again reached the highest level of enviromark certification, Toitū enviromark diamond
For the fourth year in a row, Pharmapac has achieved our certification of Toitū enviromark diamond – the highest level possible.
Pharmapac is thrilled to advise we have been awarded the coveted Natural Health Products Supplier of the Year award in the category of materials.
Pharmapac is extremely proud to be adding a 100% recyclable sugarcane biopolymer to our range of packaging options.
One of Auckland Council’s recycling facilities – Visy, in Onehunga – has introduced the use of optical sorters to allow for more plastic to be processed in New Zealand, rather than shipping it offshore.
Polypropylene (“PP”) is a highly recyclable and sought-after material in Aotearoa NZ with strong value and a corresponding end market. Many manufacturers are wanting to secure more NZ recycled polypropylene (“rPP”) rather than having to import it.
Like many great product ideas, the oval squeeze flask came about when we recognised a gap in the market for a more versatile packaging solution for the food and beverage sector.